Indian Flat Steel Imports Inch Down by 2% in CY’18

According to the customs data release, Indian flat steel imports in CY’18 stood at 5.97 MnT witness marginal decline by 2% as compared to 6.08 MnT in CY’17.

On monthly premise imports for the month of Dec’18 stood at 0.43 MnT witness significant fall of 25% against 0.57 MnT in Nov’18.

Meanwhile on yearly basis nation’s flat steel imports fell by 4% as compared to 0.45 MnT in Dec’17.

Higher Global HRC offers to India- In CY18 higher global HRC offers from major exporting nations like Japan,China and South Korea leads to fall in import volumes of HRC to India. Chinese HRC export offers reached to the peak levels till Sep’18.However from the month of Oct’18 nation’s HRC export offers fell amid weakening sentiments in domestic market.

Meanwhile strong demand in Japanese domestic market results to higher HRC export offers for India. Thus Indian steel prices also remained on higher side as mills were strongly focussing in domestic market which leads to decline in import volumes to India.

However towards the end of CY18 Indian based stockists have booked significant quantities of imports from Korea and Japan as landed cost of HRC became cheaper compared to domestic prices.

Indian HRC/Plate imports remain stable in CY’18- Nation’s HRC/Plate imports remain stable in both CY18 and CY17.

Meanwhile electrical steel imports fell by 12% to 1.62 MnT in CY’18 which was 1.85 MnT in previous year.

Also India imported 1.39 MnT of galvanized steel in CY’18 inch up by 1% as compared to 1.37 MnT in CY17.

However imports of CRC registered a rise of 17% to 0.48 MnT against 0.41 MnT in the preceding year.

Imports from China fell significantly by 47% in CY18 – Imports from China stood at 0.79 MnT fell by 47% as compared to 1.48 MnT in CY17.

Imports from South Korea stood at 2.73 MnT in CY18 increased by 19% as compared to 2.29 MnT in CY17.

Meanwhile imports from Japan stood at 0.99 MnT in CY18 decline by 16% against 1.18 MnT in previous year.

Other major flat steel imports of flat steel to India were Russia, Vietnam, Taiwan and France in CY18.

Flat steel imports at Mumbai port plunged by 21% in CY18- Flat steel imports at Mumbai port stood at 1.98 MnT in CY’18 fell by 21% against 2.52 MnT in CY 17.

Meanwhile imports at Chennai port stood at 1.17 MnT in CY’18 up by 29% against 0.91 in CY’17.

Imports at Mundra port for CY’18 accounted for 0.68 MnT down by 26% against 0.92 in CY’17.

For CY’18 imports at Kandla port stood at 0.62 MnT up by 27% from 0.49 in CY’17.

Product-Wise Flat Steel Importers in Dec’18